Solana (NASDAQ:HSDT) Upgraded at B. Riley Financial

Key Points

• B. Riley Financial upgraded Solana (NASDAQ:HSDT) to a "strong-buy"; the stock's consensus is a Moderate Buy with an average price target of $3.50 and mixed analyst ratings (1 Strong Buy, 1 Buy, 1 Sell).
• The company reported an EPS surprise of $4.25 vs. consensus (−$26.50) and revenue of $5.23M vs. $0.14M expected, but still carries a very large negative net margin (−679.54%) and negative return on equity (−104.96%).
• Shares opened at $2.06 with a market cap of ~$113M; institutional investors own about 18.63% of the stock, with new stakes disclosed from firms including State Street, Marshall Wace and others.

Solana (NASDAQ:HSDT - Get Free Report) was upgraded by stock analysts at B. Riley Financial to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Solana in a research note on Tuesday. Maxim Group initiated coverage on shares of Solana in a research note on Monday, April 6th. They set a "buy" rating and a $4.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Solana currently has an average rating of "Moderate Buy" and an average price target of $3.50.

Solana Trading Down 1.4%

Shares of NASDAQ HSDT opened at $2.06 on Wednesday. The company has a market cap of $113.07 million, a price-to-earnings ratio of 0.00 and a beta of 0.90. Solana has a 12 month low of $1.59 and a 12 month high of $265.50. The stock has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $3.96.

Solana (NASDAQ:HSDT - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $4.25 EPS for the quarter, topping analysts' consensus estimates of ($26.50) by $30.75. The firm had revenue of $5.23 million during the quarter, compared to analysts' expectations of $0.14 million. Solana had a negative net margin of 679.54% and a negative return on equity of 104.96%.

Institutional Investors Weigh In On Solana

Several hedge funds have recently added to or reduced their stakes in HSDT. State Street Corp acquired a new position in Solana in the 4th quarter valued at approximately $464,000. Cetera Investment Advisers acquired a new position in shares of Solana during the fourth quarter worth $347,000. Marshall Wace LLP bought a new stake in shares of Solana in the fourth quarter worth $195,000. XTX Topco Ltd bought a new stake in shares of Solana in the fourth quarter worth $140,000. Finally, Aristides Capital LLC acquired a new stake in Solana in the fourth quarter valued at $137,000. 18.63% of the stock is currently owned by institutional investors and hedge funds.

About Solana

Helius Medical Technologies, Inc NASDAQ: HSDT is a medical technology company focused on developing and commercializing non‐invasive neuromodulation platforms designed to enhance neurorehabilitation. Its flagship product, the Portable Neuromodulation Stimulator (PoNS®), delivers mild electrical pulses to the tongue to stimulate neural pathways in conjunction with targeted physical therapy. The device is intended to improve neuroplasticity and support recovery in patients with neurological conditions.

The PoNS system is cleared for use in the United States, Canada and the European Union and is prescribed through specialized rehabilitation clinics.

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